AML: Understanding the Rules for Insurance Producers and Employees

This interactive audio-based course provides a thorough study of anti-money laundering rules and requirements for insurance companies, insurance producers and insurance employees. The course is divided into six sections, covering the following topics: • Introduction—Provides a brief overview of the course and outlines the course learning objectives. • Part 1: AML Background and Basics —Covers the basics of money laundering and anti-money laundering efforts, and explains how life insurance products can be used for money laundering purposes. • Part 2: Regulatory Basis for Anti-Money Laundering - Explains the regulatory basis for AML measures, the two AML laws that most directly affect insurance companies, and the AML requirements that pertain to insurance companies. • Part 3: AML Rules for Insurance Companies – Outlines the basics of an insurance company AML program, and the products to which it does and does not pertain. • Part 4: SAR Rules and Requirements – Addresses the important issue of identifying and reporting suspicious activities and transactions. • Part 5: AML Red Flags – Presents a number of money laundering and suspicious activity red flag examples for a variety of situations, and offers guidelines for producer AML best practices The course includes a number of interactive exercises to further engage the student in the learning process and to emphasize key concepts.